The Ghana Revenue Authority (GRA) has clarified that it has not frozen the bank accounts of Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd.
This follows reports suggesting that enforcement action had been taken against Mr. Quaye.
In a press release issued on Thursday, March 27, 2025, the GRA stated that while a tax assessment of GH₵30 million has been issued against Quaye, no measures such as freezing his accounts have been enforced.
"The Authority has assessed his income taxes, but no enforcement action, including account freezing, has been initiated," the statement emphasized.
The GRA urged the public to disregard the false reports and reaffirmed its commitment to due process in handling tax matters. It explained that enforcement actions, like account garnishments, are only implemented when a taxpayer fails to cooperate after an assessment is issued.
The authority also encouraged all eligible taxpayers to voluntarily declare their incomes and meet their tax obligations to avoid penalties, interest charges, and legal consequences.
Furthermore, the GRA reassured the public of its commitment to fairness, integrity, and transparency in tax administration, emphasizing its adherence to due process.
Background:
Mr. Quaye recently marked his 40th birthday with a lavish celebration at the Black Star Square in Accra. The event was attended by prominent local and international figures, including business tycoons and entertainment icons.
The grand #RNAQ40 celebration brought together some of Ghana’s most influential personalities, such as Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong, highlighting Quaye’s strong connections within the country’s business and social circles.
Government officials, industry leaders, and international business figures also attended the event to celebrate Mr. Quaye’s achievements.
Entertainment at the event featured performances from Nigerian superstar Davido and Ghanaian rap icon Sarkodie, with Afro-dancehall artist Stonebwoy energizing the crowd.
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